Re: [MTC Global] The profit motive is threatening higher education

R Hall's views are right but the same have been repeatedly expressed since long, ,namely, to seek opportunities for profiteering in every activity man undertakes.

Man is just a part like other elements created by nature in the so called natural systems.But man is endowed with thinking power that man uses for growth, prosperity, safety, safe and secured future,etc., by creating his own world in terms of say systems, ways of earning livelyhood, hospitals, schools, transport, etc. Naturally for survival man is after wealth that offers him safety and security for future. Obviously, amassing money is the only objective left behind, save in a very few cases. There is a very small percentage of people who really adhere to the core theory of any ism, most others run after profiteering pretending "ism" as a tool of well-fare.

Now let us ponder on the features of Higher Education (HE). Giving approval for starting HE institutes to any sector, public or private, is not unacceptable. But as the time passes, every one of the regulatory bodies, educational providers, and public (beneficiaries) is after gaining something. And in the process every one starts moving away from the ultimate objectives, thereby giving rise to many social ills.

In fact, HE is a very profitable business. In manufacturing or service sectors, there are many demotivating factors right from capital generation to sales. In HE, this is almost missing, student-fees is a regular source of revenue out of which almost 50-60% is borne through public funding (Govt. funds). There are 'n' number of ways where cost cutting is done, like, outsourcing faculty, outsourcing man-power, smart ways of pleasing inspection/approval committees, squeezing faculty/staff who are paid low and no much expectation of performance on job, etc. In this process, every body is happy as there is no binding for achieving certain objectives as we are not in real terms student-centric or institute-centric or industry-centric or research-centric or HE-centric or national-centric. Our population-size is the strongest point, we are having the world-largest HE market! And such a huge market is subjected to relevant strategies and tactics for successful HE business with minimum or no risk.

If the Indian HE players of the game are happy, is there any need/interest in improving our HE system?

_______________________________________________________
Regards,

Dr. P H Waghodekar, PhD (Egg), IIT,KGP, IE&M, 1985,
Marathwada Institute of Technology,
Aurangabad: 431028 (Maharashtra) INDIA.
(O) 02402375113 (M) 7276661925
E-Mail: waghodekar@rediffmail.com
Website: www.mit.asia

Engineering & Management Education: An Engine of Prosperity.
Classroom teaching must match with Boardroom needs!

From: "Prof. Bholanath Dutta"
Sent: Sun, 31 Aug 2014 07:16:40
To: googlegroups.com>
Subject: [MTC Global] The profit motive is threatening higher education

Why? Because these for-profit institutions often receive hundreds of negative reviews on our website – and at the end of the day, they only seem to care about their financial bottom line.

Free market capitalism argues that competition will drive businesses to offer better and better deals to consumers, while forcing them to place value on the reputation of their product or service.

In the education sector, however, an industry offering billions of dollars in unconditional government grants – and an industry in which for-profit institutions can change their name or location at a moment's notice while all the while blaming students for any lack of success – there is truly very little comparison to the typical practices and boundaries that make up the cornerstone of free market philosophies.

This very corrupt and misleading market is not 'free' in any sense – in fact, it more closely resembles the defence-contractor industry in the United States, where companies like Halliburton or Blackwater spring up overnight to win massive no-bid government contracts for things like re-building post-war Iraq.

Interestingly, Caribbean-based offshore investment companies are now offering 'shelf universities' for sale alongside shelf corporations – a shameful testament to the massive demand among fly-by-night investors looking to make a quick buck off the higher education sector.

The truth is that treating a college or university primarily as a 'profitable' business puts the focus on cutting corners whenever possible and increasing efficiency wherever possible. Ultimately, this approach treats higher education as a globally traded commodity with no safety net.

However, unlike gold, or oil, the 'product' of higher education is an intangible, virtual good whose value is completely perceived. And that is exactly why, among self-respecting academics, it will always matter more where and with whom you studied, rather than just merely what you studied.

As the founders of the United States government clearly understood, there are some things that must remain purposefully inefficient, and thoroughly bound by checks and balances, in order to maintain their purpose and value. The education sector should be one of the things.

Author: Richard Hall

An excerpt

Educate, Empower, Elevate

Prof. Bholanath Dutta

Founder, Convener & President

MTC Global & Knowledge Cafe

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